EU EconomyEuropean demand for new cars down in March for 18th straight month
By Finfacts Team
Apr 17, 2013 - 2:53 PM

In March, European demand for new passenger cars was on the decline for the 18th
straight month, totaling 1,307,107 units. Over the first quarter of 2013, new
car registrations amounted to 2,989,486 units, or 9.8% less than in the first
three months of 2012.

New car registrations in
Europe in 2012 were at the lowest since 1995 as the number of new cars
registered fell 8.2% to a total of 12.05m vehicles, according to the European Automobile
Manufacturers' Association (ACEA - - - - Association des Constructeurs Europeens
d'Áutomobiles). The decline - compared to the previous year
- was the steepest since 1993, when annual sales contracted 16.9%.

Overall, the EU* recorded a total of 1,307,107 new cars, or 10.2% less than
in March 2012.

From January to March, except for the UK (+7.4%), all major markets faced a
double-digit downturn ranging from -11.5% in Spain to -12.9% in Germany, -13.0%
in Italy and -14.6% in France. Overall new car registrations decreased by 9.8%
in the first quarter, compared to the same period a year earlier.

Bloomberg reports that General Motors, "armed with its best vehicles in a
generation," posted a 3.6% increase in global sales during the first quarter,
keeping its lead over Volkswagen AG by about 90,000 vehicles.

Chevrolet sales in the US. and Buick demand in China helped GM deliver 2.36m
cars and trucks in the first three months of 2013, the Detroit-based company
said yesterday. VW said April 12 that sales during the period rose
5.1% to 2.27m. Toyota Motor Corp., which outsold both companies last year,
hasn’t reported global delivery figures yet.

Volkswagen, based in Wolfsburg, Germany, reported a 5.9% sales decline in Europe
that was offset by gains in the US and China. The company, with brands including
Audi and Porsche, said its US sales rose 15% to 142,800 and China deliveries
increased 21% to 633,900.